I dont know if this is a coincidence or its a reality but for me a team that is able to lift the Champions League trophy usually has star players in the team but also this will not guarantee that a team can get the UCL trophy just because there are star players but that just my opinion.
They must be a strongest or one of strongest teams in that season but it's not enough. They also must have enough if not most luckiness in that season to lift Champions League trophy. Without luckiness, a team will not be able to be a Champions League winner even they are considered, in theory, as a strongest team there.
If only being a strongest team, is enough to be a winner, many strong clubs would have successfully protected their titles. In reality so far only Real Madrid succeeded to protect their Champions League trophy.
and for Man City they still have a chance in the upcoming UCL season but at the start of the season Man City was a little inconsistent in the EPL and their main player Haaland also experienced a change in his performance. I think Guardiola will work hard to improve his players again to be able to lift the UCL trophy again.
Manchester City only shown their strength in the second-leg semi final against Real Madrid when they won against Real Madrid very convincingly. In the final match, they did not have a convincing win over Inter Milan. I consider it as a signal that Manchester City will have big trouble to defend their title in this season. They are far from Barcelona or Real Madrid in the past so they will have more difficulties to protect their crown.